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20130204
20130212
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Search Results 0 to 34 of about 35 (some duplicates have been removed)
's transparent and that we're reducing our deficit in a way that doesn't hamper growth. >> reporter: the response from house speaker john boehner's office? the president got his revenue, now it's finally time to make the reforms necessary to save our entitlement programs. any tax loopholes we close should be used to lower rates for all taxpayers so we can be more competitive and create or more jobs. automatic spending cuts hit the federal budget march 1st. less than four weeks later, a large portion of federal spending authority expires. if democrats and republicans fail to resolve these tax and spending differences, the government is headed for those across the board spending cuts and a government shutdown. back to you. connell: rich, thank you very much. rich edson in d.c. dagen: let's bring in david stockman, former economic adviser to president ronald reagan. there's no urgency though. if we don't do something about our annual budget deficits and our longer term debt that we're accumulating, is it just going to be kind of a slow drip like where we bleed to death as a nation, where we don't re
are in for a massive and unsustainable increasing deficit if we don't get a handle on entitlements. good morning. glad to have you with us. gregg: the cbo is saying it deficit will go down to $840 billion. that's the first time it will drop a trillion dollars under president obama. martha: but with baby boomers retiring at the rate of 10,000 people a day. entitlement spending is set to explode. stuart, as we pointed out, there is a lot of enthusiasm that we won't rack up a trillion dollar deficit. >> reporter: the headline was all about the deficit is going to be below a trillion dollars. that's great news. the bad news and there is a lot of it. the next 10 years medicare will cost $1 trillion a year. obama-care subsidies will total nearly a trillion dollars. the cost of medicaid will double and the debt will go to the highest portion of tour economy than it's been in a generation. there is dismal views on the current state of the economy. 1.4% growth this year and the unemployment rate will rise at 8% and stay that way for years to come. martha: the cbo makes very clear we need to do some entitlement
that john boehner said about how we have handled deficits over the years. let's listen to this. >> at some point, washington has to deal with its spending problem. now, i've watched them kick this can down the road 22 years that i've been here. i've had enough of it. it's time to act. >> that is -- i'm trying to think of a word other than lie. kick the can down the road? we had a big tax increase in 1993 with president clinton along with big spending cuts. >> right. >> it was a deficit reduction package that worked. they continued to do more deficit reducing package with newt gingrich on the spending side throughout the decade and we're on our way to a surplus. >> that's right. i've been calling it the undecade, the 1990s has been written out of their record. they would have you believe that it was always the way it was under reagan and then bush. >> why don't they just say, leave off the clinton tax increase, which helped a lot, and just claim they did it for spending cuts? >> because if they do, if they admit that something nice happened in the '90s, they have to say, what happened after
with smarter spending reductions to bring down the deficit. we can do it in a gradual way so that there is less of an impact. these deductions that certain folks can take advantage of, the average person cannot. not everyone has access to cayman island accounts, the average person does not have access to carry interest income, where they wind up paying a much lower rate on the billions that they earned. we want to make sure that the whole system is fair and transparent and that we are reducing our deficit in a way that does not hamper growth and reduce the kinds of strategies that we need in order to make sure that we are creating a strong middle-class. host: jim from south carolina, on the republican line, good morning. caller: how are you? host: well, thank you. caller: you keep mentioning and hearing people talking about pensions, but pensions are just invested the same way that 401k is. stocks and bonds. people with pensions lost money as well. i heard cases where people were not going to get as much money. if someone is manages their 401k, i do not know, it needs to be managed properly and
'll be following this. >>> to washington now. members of congress remain focused on deficits, spending and how to head off the looming sequestration cuts poised to kick in early next month. in separate interviews on sunday, house minority leader nancy pelosi and majority leader eric cantor laid out the economic dividing lines. >> what we need is growth. we need growth with jobs. and if you have spending cuts, education of our children and other investments like the national institutes of health where you are hindering growth, you're not going to reduce the deficit. so it is almost a false argument to say we have a spending problem. we have a budget deficit problem that we have to address. we think the deficit and the national debt are at immoral levels. we think they must be reduced. we're sick and tired of paying interest on the national debt. and that's 15% -- that's a large percentage of the budget. >> the tax fight for the president means higher taxes, more revenue. again, we can't be raising taxes every three months in this town, david. and you know, the bottom line is we want tax reform,
the deficit. all by honoring the wish of 2/3 of americans to respect states' rights for marijuana just like we do for alcohol. i would invite my colleagues to join this effort in developing a marijuana policy that makes sense for america today. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from north carolina, mr. coble, for five minutes. mr. coble: i thank the speaker. mr. speaker, january is the traditional month in which new year's resolutions are developed. i'm suggesting that president obama and mrs. boim adopt a resolution -- mrs. obama adopt a resolution. it appears to me, mr. speaker, regard air force one very casually and i believe on some occasions two planes, at least two planes go to the same destination. air force one, mr. speaker, belongs to president and mrs. obama. but air force one also belongs to the american taxpayer. and i would welcome a new year's resolution that would provide generous lace of all future air force one dispatches with prudence, discipline and last but certainly not least fiscal austerity. america's taxpayers will be
. grappling with a record debt and deficits, threat of global warming, threat of global poverty, pandemics, of national security challenges like continuing war on terrorism, instability of iran and north korea, rising powers, turmoil across the middle east, turmoil in north africa, the proliferation of weapons of mass destruction, and the growing threat of cyber attacks. how we confront these problems, how we deal with these challenges will in many ways determine the future course of america. it will determine whether the united states will be a leader in the 21st century, or whether we will be just another failed empire in history. to succeed, we will depend on the resilience of our economy, the strength of our diplomatic and military institutions, and above all, the effectiveness of our political system. that underpins in many ways everything we do as a country. and that brings me to what i see as perhaps the most urgent task, facing this nation and facing all of us. and that is overcoming the partisan dysfunction in congress that poses a threat to our quality of life, to our national se
feel that same sense of shared responsibility. that is how we will reduce our deficit. that is america built to last. [laughter] -- [applause] i recognize that people watching tonight have differing views about taxes and debt and energy and health care. no matter what party they belong to, i bet most americans are thinking the same thing right about now -- nothing will get done in washington this year. or next year. or the year after that, because washington is broken. can you blame them for feeling all little bit cynical? the greatest blow to our confidence in our economy last year did not come from event beyond our control. it came from a debate in washington over whether the united states would pay its bills or not. who benefited from that fiasco? i talked tonight about the deficit of trust between main street and wall street. but the divide between the city and the rest of the country is at least as bad, and it seems to get worse every year. host: from january of last -- of last year, the president in his state of the union address. some of the same themes it will continue this wee
talking about the deficit. >> really? oh, yes. eric cantor to the rescue. he is ready to save the republican image and put a stop to the electoral college losses, right? of course, this is not the first time eric cantor has tried to save the party. you see, it actually is the fourth attempt that he has had. in 2009, cantor held a pizza party, remember that? with jeb bush and mitt romney by launching the national council for a new america that didn't work. a year later, cantor was back at it. he was one of the young guns ready to take the republican party by storm. >> there is a better way, and a new team is ready to bring america back. eric cantor, kevin mccarthy, paul ryan joined by common-sense conservative candidates from across the country. together, they are ready to make history. together they are the young guns. >> the good old days. in 2011, cantor launched the you cut program. he wanted to get the public to vote on weekly cuts to federal government. another year, another failure. so today cantor launched the "making life work" campaign. he is trying desperately to avo
this debt problem. [applause] if you look at what is happening here, it is true that the deficit are going to be below $1 trillion for the first time in several years. and it is true that the new revenues raised in spending that you did not do. it is true that the economy is beginning to grow again. but this is almost like the reverse of what we did in 1993. that is, i was prickly well aware if we raise taxes and cut spending, it could have a dragging effect in the economy. but not nearly as much as spending 40% of the budget paying interest on the debt. not nearly as much as having low growth. at nearly as much as having interest rates that were too high. so our gamble was that the explosive the fact of lowering interest rates, with a booming bond market and having more disposable income over a 5 =-10 year period would more than offset putting the hammer down by raising more money and cutting spending. it turned out to be a good gamble, but it made sense. it will make sense here again. but timing is everything. and so, i think he should have a budget that does not defy our arithmetic but
appropriations committee yesterday we learned that we're actually making progress in getting the budget deficit to shrink below a trillion dollars. which you have saluted as good news. >> you know, a lot of people forget what president bill clinton did. if we would have just continued what he did back when he left office, we would have been -- we had a surplus. we wouldn't be in this situation. but bottom line is the deficit is i believe it is the lowest in some time in 2008. we ought to be celebrating we're actually moving the target down. it is moving down instead of going up. but nobody has picked up. i'm glad she picked that up. bill and victoria, thank you for telling the listeners that president obama and all of us working together, we're actually bringing down the deficit. >> bill: the deficit's going down and the market the dow is going up. so there is some good economic news that you never hear about except here on the "full court press." congressman henry cuellar great to have you with us this morning. >> thank you, bill and victoria. >> bill: we'll be back to continue our conversatio
. there is basically an aversion to paying taxes, and we have deficits caused by wars, tax cuts, and all of the things that we talked about, and there are more people retiring. we could say that is too bad, they lived to long -- right -- too long -- one i was growing up, my grandmother had no medicare, no social security, and she lived with her daughters. i slept on the couch in the living room because that is how families took care of seniors before 1964. now we have a medicare program, where my father lived to 93, my mother lived to 97, and we did nothing for them except pay for their taxes. one year we gave my mom a christmas gift, a hearing aid which cost about $800. host: medicare does not cover that? guest: medicare does not cover that. good luck, you are on your own is what we say to seniors. my view is we are a better country than that. we can find a way to do that. there is a lot of stuff done in this country where people are getting treatment or examinations that are not making their health better or their life better. we have to look at that and stop doing that kind of stuff. that means wit
to focus on the debt and deficit and what is going on in washington. there is still some growth out there. the housing sector is coming back. the auto sector is coming back. those are positives that get completely put back to the forefront when everyone is talking about the debt. host: tom, elkhart, indiana. on our democrat line. caller: elkhart is the recreational vehicle capital. we went down on that in 2007 when the oil prices went up. we are manufacturing housing. we are the musical manufacturing capital. for band and treatments and such. they are made here anymore. are headquartered here, but the work is not here. i do not see how this works. host: were you at the president 's speech in 2009? what did you think when the president came to town? caller: it was helpful. he is doing what he can. he has faced a lot of resistance. it is postindustrial. i am working in michigan four eight federally subsidized wheelchair van. mostly my passengers are senior citizens and disabled people. the 47% that romney talked about. host: we will move on to charles, arkansas, on our line for republicans.
the president on debt and deficits. i'd like to know also, i don't think of the fundamental issues confronting this country. but on the gun issue, why wasn't there a single question about the 15-year-old chicago girl, haddia pendleton, who parked in the parade in the inauguration and was gunned down, the 42nd victim of gun violence in chicago in january. that might be relevant to the issue of how do you stop trafficking of illegal weapon, and relevant to the actual policy debates under way in this country. >> richard, why does inside the beltway media have a propensity to focus on things that people don't care about? >> look, i've been part of that press corps. i was there in the time in the run-up to the war in iraq. but as a pack, as a pack mentality, this is a game. look, the war in iraq was serious. don't get me wrong. but we're talking about kids in america who were killed and how to respond to that. and so, you know, the disjoint between this photo, what the president does in his leisure time, whether it's real or not, how often he does it, and the cold, hard facts of american children b
such as the deficit, guns, or health care. the white house has certainly gotten the message on jobs and isn't waiting until tomorrow night to start getting its message out before the inevitable republican attacks start raining down. take a listen. >> you will hear in the president's state of the union an outline from him for his plan to create jobs and grow the middle class. the middle class is the engine that drives this country forward and which will, if it is given the right tools and the right opportunities, will drive us forward in the 21st century. >> let's get to our guest, democratic strategist bob shrum, and karen finney. the president is expected to use the speech as a way to frame the debate over the so-called sequester which would mean $85 billion in cuts that republicans claim are entirely his fault. take a listen to this. >> you know, the president, he's the one who proposed the sequester in the first place. >> it's what president obama proposed in 2011. >> it is inevitable quite frankly. now these cuts are coming by law and it's law the president signed and advocated. >> okay, professo
put together before some real decisions have to be made about our budget, our debt and our deficit. big questions today, the president's remarks 1:15 eastern time. >> reporter: and we're here in the newsroom, joadty is back on the witness stand again today, she's trying to stay off of death row. of she said she killed her boyfriend out of self-defense, prosecutors will ask her why that meant shooting him in the head and stabbing him 27 times. >>> also, the whole country very, very relieved to hear that 5-year-old boy who had been held hostage in alabama was freed successfully. we'll talk with a child psychologist about the emotional challenges that boy will now face. >>> and everyone knows you can't get blood from a stone, but can you get water from a rock on mars? nasa's trying to find that out. we've got an update for you. second hour of "happening now" starts right now. ♪ jenna: great to have you with us, everybody, on this tuesday. i'm jenna lee. jon: and i'm jon scott. a soft spoken and relatively calm jodi areas stet to take the -- set to take the stand again today. areas,
away. right? >> right. >> but republicans got to the brink and caved on the deficit ceiling. they got to the brink and they caved on sequester the first round. now, sequester comes back and still with the budget. and and they are saying, no, no, no. they are saying again that we are never going to agree with this unless we get major, major spending cuts and social security and welfare but can we believe him anymore? i mean it looks to me at the same time like they will get to the brink again and realize, no, no, no. we can't do this. if we look at recent history, that would be the course. what's fascinating is the republicans see this as the major bargaining chip to get their desired spending cuts but if we remember from their campaign last fall we saw mitt romney and paul rind on trying to avert the sequester saying this would be a really bad thing, you know, especially for defense. now, we kind of see a reverse here john boehner has said that he does not support a delay which the president wants, which the president outlined last week. so t
. >> no. no. well the first of the year on the fiscal cliff. on the deficit. then they caved, once they came back. right? on the budget and extended things again. isn't it likely no matter their bluff, they are going to cave on the sequester as well? >> we will see what happens. on top republicans are set to unveil their package with sec wrestration and they are likely to introduce a plan to pay for a year's worth of sequester cuts, a year reduction in the federal work force through attrition, not people losing their jobs but that's what they are set to unveil. >> that's kelly ayott, the chair of the house armed services committee and reveal an alternate plan and say what president obama suggested is dead on arrival in the house, not going to make it through congress >> bill: but they will come up with their own plan? >> they will later this afternoon. >> juan aa summers reporter for politico pro the paid addition? >> we are behind the pay wall but i pop up on the main site to cause trouble. >> defense related issues chuck hagel's nomination sequester,
Search Results 0 to 34 of about 35 (some duplicates have been removed)